Description

Reinsurance in Australia, Key Trends and Opportunities to 2020 Description

Timetric’s 'Reinsurance in Australia, Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the Australian reinsurance segment. It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2011–2015) and forecast period (2015–2020).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Australian economy and demographics, and provides detailed analysis of natural hazards and their impact on the Australian insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Gain insights into key regulations governing the Australian insurance industry, and their impact on companies and the industry's future.

Key Highlights

The premium accepted by the Australian reinsurance segment grew at a review-period CAGR of 5.7%.

Due to natural disasters such as the Queensland floods and Cyclone Yasi in 2011, premium rates for some classes of reinsurance increased by more than 50%. Insurers had to increase prices to remain solvent.

The reinsurance segment is highly competitive, with seven reinsurers providing cover for life insurers and 12 providing cover for non-life insurers.

Competition among reinsurers in Australia is based on price, as capital inflows are high and demand for reinsurance is relatively low.

The segment is expected to consolidate over the forecast period, as smaller reinsurers are expected to merge with larger reinsurers due to high competition and falling renewal rates.